Fred Wilson (can you tell I read his blog?) also just posted on how he is seeing a lot of “dumb” money around – as in bubble money. I think he means VC’s who throw money at companies when they don’t understand the space, the product or the team…. I think.
I am pretty sure I know what smart money is, but I am not so sure what dumb money is. However, I have always preferred smart money. That means an investor/team that knows our space, has operational experience in consumer products and “gets it” (which is tough for the emerging music and social space).
That said, dumb is a very very relative term – and most important to us is a very smart partner – regardless of background.